,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #fcaf  ,,in ,,the ,,house ,,of  
,,representatives  ,march #bc1 #bjbj,ms4
 ,dean introduced the following bill2   
which was referred to the ,committee on 
,education and ,labor1 and in addition  
to the ,committees on ,financial        
,services1 and ,ways and ,means1 for a  
period to be subsequently determined by 
the ,speaker1 in each case for          
consideration of such provisions as fall
 within the jurisdiction of the         
committee concerned  ,a ,,bill  ,to     
provide relief for ,federal and private 
student loan borrowers during the       
,,covid-#ai pandemic1 and for other     
purposes4  #a4 ,short title ,this ,act  
may be cited as the ,emergency ,relief  
for ,student ,borrowers ,act of #bjbj4  
#b4 ,payments for ,federal student loan 
borrowers as a result of a national     
emergency  7a7 ,in general ,part ,g of  
title ,,iv of the ,higher ,education    
,act of #aife 7#bj ,u4,s4,c4 #ajhh et   
seq47 is amended by inserting after     

section #dic;,d the following3  #dic;,e4
 ,payments for student loan borrowers   
during the ,,covid-#ai national         
emergency  7a7 ,definitions ,in this    
section3 7#a7 ,coronavirus ,the term    
coronavirus has the meaning given the   
term in section #ejf of the ,coronavirus
 ,preparedness and ,response            
,supplemental ,appropriations ,act1     
#bjbj 7,public ,law #aaf-abc74  7#b7    
,income-driven repayment ,the term      
income-driven repayment means-- 7,a7    
income-based repayment authorized under 
section #dic;,c for loans made1 insured1
 or guaranteed under part ,b or part ,d2
 or  7,b7 income contingent repayment   
authorized under section #dee7;e7 for   
loans made under part ,d4  7#c7         
,involuntary collection ,the term       
involuntary collection means-- 7,a7 a   
wage garnishment authorized under       
section #dhh;,a of this ,act or section 
#cgbj;,d of title #ca1 ,united ,states  
,code2  7,b7 a reduction of tax refund  
by amount of debt authorized under      

section #cgbj;,a of title #ca1 ,united  
,states ,code2  7,c7 a reduction of any 
other ,federal benefit payment by       
administrative offset authorized under  
section #cgaf of title #ca1 ,united     
,states ,code 7including a benefit      
payment due to an individual under the  
,social ,security ,act or any other     
provision described in subsection       
7c77#c77;,a77i7 of such section72 and   
7,d7 any other involuntary collection   
activity4  7#d7 ,,covid-#ai emergency   
period ,for purposes of this ,act1 the  
term ,,covid-#ai emergency period means 
the period that begins upon the date of 
the enactment of this ,act and ends upon
 the date of the termination by the     
,federal ,emergency ,management         
,administration of the emergency        
declared on ,march #ac1 #bjbj1 by the   
,president under the ,robert ,t4        
,stafford ,disaster ,relief and         
,emergency ,assistance ,act 7#db        
,u4,s4,c4 #daba et seq47 relating to the
 ,coronavirus ,disease #bjai            

7,,covid-#ai7 pandemic4  7b7 ,,covid-#ai
 national emergency student loan        
repayment assistance  7#a7 ,authority   
,effective on the date of the enactment 
of this section1 during the ,,covid-#ai 
emergency period and the #f-month period
 immediately following1 the ,secretary  
of ,education shall for each borrower of
 a loan made1 insured1 or guaranteed    
under part ,b1 ,d1 or ,e1 pay the total 
amount due for such month on the loan1  
based on the payment plan selected by   
the borrower or the borrower's loan     
status4  7#b7 ,no capitalization of     
interest ,with respect to any loan in   
repayment during the ,,covid-#ai        
national emergency period and the       
#f-month period immediately following1  
interest due on loans made1 insured1 or 
guaranteed under part ,b1 ,d1 or ,e     
during such period shall not be         
capitalized at any time during the      
,,covid-#ai national emergency period   
and the #f-month period immediately     
following4  7#c7 ,applicability of      

payments ,any payment made by the       
,secretary of ,education under this     
section shall be considered by the      
,secretary of ,education1 or by a lender
 with respect to a loan made1 insured1  
or guaranteed under part ,b-- 7,a7 as a 
qualifying payment under the public     
service loan forgiveness program under  
section #dee7m71 if the borrower would  
otherwise qualify under such section2   
7,b7 in the case of a borrower enrolled 
in an income-driven repayment plan1 as a
 qualifying payment for the purpose of  
calculating eligibility for loan        
forgiveness for the borrower in         
accordance with section #dic;,c7b77#g7  
or section #dee7;d77#a77;,d71 as the    
case may be2 and  7,c7 in the case of a 
borrower in default1 as an on-time      
monthly payment for purposes of loan    
rehabilitation pursuant to section      
#dbh;,f7a74  7#d7 ,reporting to consumer
 reporting agencies ,during the period  
in which the ,secretary of ,education is
 making payments on a loan under        

paragraph 7#a71 the ,secretary shall    
ensure that1 for the purpose of         
reporting information about the loan to 
a consumer reporting agency1 any payment
 made by the ,secretary is treated as if
 it were a regularly scheduled payment  
made by a borrower4  7#e7 ,notice of    
payments and program ,not later than #ae
 days following the date of enactment of
 this section1 and monthly thereafter   
during the ,,covid-#ai national         
emergency period and the #f-month period
 immediately following1 the ,secretary  
of ,education shall provide a notice to 
all borrowers of loans made1 insured1 or
 guaranteed under part ,b1 ,d1 or ,e--  
7,a7 informing borrowers of the actions 
taken under this section2  7,b7         
providing borrowers with an easily      
accessible method to opt out of the     
benefits provided under this section2   
and  7,c7 notifying the borrower that   
the program under this section is a     
temporary program and will end #f months
 after the ,,covid-#ai national         

emergency period ends4  7#f7 ,suspension
 of involuntary collection ,during the  
,,covid-#ai national emergency period   
and the #f-month period immediately     
following1 the ,secretary of ,education1
 or other holder of a loan made1        
insured1 or guaranteed under part ,b1   
,d1 or ,e1 shall immediately take action
 to halt all involuntary collection     
related to the loan4  7#g7 ,mandatory   
forbearance ,during the period in which 
the ,secretary of ,education is making  
payments on a loan under paragraph 7#a71
 the ,secretary1 or a lender or guaranty
 agency for a loan made under part ,b1  
shall grant the borrower forbearance as 
follows3 7,a7 ,a temporary cessation of 
all payments on the loan other than the 
payments of interest and principal on   
the loan that are made under paragraph  
7#a74  7,b7 ,for borrowers who are      
delinquent but who are not yet in       
default before the date on which the    
,secretary begins making payments under 
paragraph 7#a71 the retroactive         

application of forbearance to address   
any delinquency4  4  7b7 ,,ffel         
amendment ,section #dbh7;c77#h7 of the  
,higher ,education ,act of #aife 7#bj   
,u4,s4,c4 #ajgh7;c77#h77 is amended by  
striking and for which and all that     
follows through this subsection4  #c4   
,payments for private education loan    
borrowers as a result of the ,,covid-#ai
 national emergency ,section #adj of the
 ,truth in ,lending ,act 7#ae ,u4,s4,c4 
#afej7 is amended by adding at the end  
the following new subsection3  7h7      
,,covid-#ai national emergency private  
education loan repayment assistance     
7#a7 ,authority ,effective on the date  
of the enactment of this section1 for   
the duration of the ,,covid-#ai         
emergency period and the #f-month period
 immediately following1 the ,secretary  
of the ,treasury shall1 for each        
borrower of a private education loan1   
pay the total amount due for such month 
on the loan1 based on the payment plan  
selected by the borrower or the         

borrower's loan status4  7#b7 ,no       
capitalization of interest ,with respect
 to any loan in repayment during the    
,,covid-#ai national emergency period   
and the #f-month period immediately     
following1 interest due on a private    
education loan during such period shall 
not be capitalized at any time during   
the ,,covid-#ai national emergency      
period and the #f-month period          
immediately following4  7#c7 ,reporting 
to consumer reporting agencies ,during  
the period in which the ,secretary of   
the ,treasury is making payments on a   
loan under paragraph 7#a71 the          
,secretary shall ensure that1 for the   
purpose of reporting information about  
the loan to a consumer reporting agency1
 any payment made by the ,secretary is  
treated as if it were a regularly       
scheduled payment made by a borrower4   
7#d7 ,notice of payments and program    
,not later than #ae days following the  
date of enactment of this subsection1   
and monthly thereafter during the       

,,covid-#ai national emergency period   
and the #f-month period immediately     
following1 the ,secretary of the        
,treasury shall provide a notice to all 
borrowers of private education loans--  
7,a7 informing borrowers of the actions 
taken under this subsection2  7,b7      
providing borrowers with an easily      
accessible method to opt out of the     
benefits provided under this subsection2
 and  7,c7 notifying the borrower that  
the program under this subsection is a  
temporary program and will end #f months
 after the ,,covid-#ai national         
emergency period ends4  7#e7 ,suspension
 of involuntary collection ,during the  
,,covid-#ai national emergency period   
and the #f-month period immediately     
following1 the holder of a private      
education loan shall immediately take   
action to halt all involuntary          
collection related to the loan4  7#f7   
,mandatory forbearance ,during the      
period in which the ,secretary of the   
,treasury is making payments on a loan  

under paragraph 7#a71 the servicer of   
such loan shall grant the borrower      
forbearance as follows3 7,a7 ,a         
temporary cessation of all payments on  
the loan other than the payments of     
interest and principal on the loan that 
are made under paragraph 7#a74  7,b7    
,for borrowers who are delinquent but   
who are not yet in default before the   
date on which the ,secretary begins     
making payments under paragraph 7#a71   
the retroactive application of          
forbearance to address any delinquency4 
7#g7 ,data to implement ,holders and    
servicers of private education loans    
shall report1 to the satisfaction of the
 ,secretary of the ,treasury1 the       
information necessary to calculate the  
amount to be paid under this section4   
7#h7 ,,covid-#ai emergency period       
defined ,in this subsection1 the term   
,,covid-#ai emergency period means the  
period that begins upon the date of the 
enactment of this ,act and ends upon the
 date of the termination by the ,federal

 ,emergency ,management ,administration 
of the emergency declared on ,march #ac1
 #bjbj1 by the ,president under the     
,robert ,t4 ,stafford ,disaster ,relief 
and ,emergency ,assistance ,act 7#db    
,u4,s4,c4 #daba et seq47 relating to the
 ,coronavirus ,disease #bjai            
7,,covid-#ai7 pandemic4  4  #d4 ,minimum
 relief for ,federal and private student
 loan borrowers as a result of the      
,,covid-#ai national emergency  7a7     
,minimum student loan relief as a result
 of the ,,covid-#ai national emergency  
,not later than #bgj days after the last
 day of the ,,covid-#ai emergency       
period1 the ,secretaries concerned shall
 jointly carry out a program under which
 a qualified borrower1 with respect to  
the covered loans and private education 
of loans of such qualified borrower1    
shall receive in accordance with        
subsection 7c7 an amount equal to the   
lesser of the following3 7#a7 ,the total
 amount of each covered loan and each   
private education loan of the borrower2 

or  7#b7 #aj1jjj4  7b7 ,notification of 
borrowers ,not later than #bgj days     
after the last day of the ,,covid-#ai   
emergency period1 the ,secretaries      
concerned shall notify each qualified   
borrower of-- 7#a7 the requirements to  
provide loan relief to such borrower    
under this section2 and  7#b7 the       
opportunity for such borrower to make an
 election under subsection 7c77#a7 with 
respect to the application of such loan 
relief to the covered loans and private 
education loans of such borrower4  7c7  
,distribution of funding  7#a7 ,election
 by borrower ,not later than #de days   
after a notice is sent under subsection 
7b71 a qualified borrower may elect to  
apply the amount determined with respect
 to such borrower under subsection 7a7  
to-- 7,a7 any covered loan of the       
borrower2  7,b7 any private education   
loan of the borrower2 and  7,c7 any     
combination of the loans described in   
subparagraphs 7,a7 and 7,b74  7#b7      
,automatic payment  7,a7 ,in general ,in

 the case of a qualified borrower who   
does not make an election under         
paragraph 7#a7 before the date described
 in such paragraph1 the ,secretaries    
concerned shall apply the amount        
determined with respect to such borrower
 under subsection 7a7 in order of the   
covered loan or private education loan  
of the qualified borrower with the      
highest interest rate4  7,b7 ,equal     
interest rates ,in case of two or more  
covered loans or private education loans
 described in subparagraph 7,a7 with    
equal interest rates1 the ,secretaries  
concerned shall apply the amount        
determined with respect to such borrower
 under subsection 7a7 first to the loan 
with the highest principal4  7d7 ,data  
,to implement  7#a7 ,secretary of       
education ,contractors of the ,secretary
 of ,education and lenders and guaranty 
agencies holding loans made1 insured1 or
 guaranteed under part ,b shall report1 
to the satisfaction of the ,secretary of
 ,education1 the information necessary  

to calculate the amount to be applied   
under subsection 7a74  7#b7 ,secretary  
of treasury ,holders and servicers of   
private education loans shall report1 to
 the satisfaction of the ,secretary of  
the ,treasury1 the information necessary
 to calculate the amount to be applied  
under subsection 7a74  7e7 ,memorandum  
of understanding ,the ,secretaries      
concerned shall enter into a memorandum 
of understanding to carry out this      
section4  7f7 ,definitions ,in this     
section3 7#a7 ,covered loan ,the term   
covered loan means-- 7,a7 a loan made1  
insured1 or guaranteed under part ,b of 
title ,,iv of the ,higher ,education    
,act of #aife 7#bj ,u4,s4,c4 #ajga et   
seq472  7,b7 a loan made under part ,d  
of title ,,iv of the ,higher ,education 
,act of #aife 7#bj ,u4,s4,c4 #ajhg;a et 
seq472 and  7,c7 a ,federal ,perkins    
,loan made pursuant to part ,e of title 
,,iv of the ,higher ,education ,act of  
#aife 7#bj ,u4,s4,c4 #ajhg;aa et seq474 
7#b7 ,,covid-#ai emergency period ,for  

purposes of this ,act1 the term         
,,covid-#ai emergency period means the  
period that begins upon the date of the 
enactment of this ,act and ends upon the
 date of the termination by the ,federal
 ,emergency ,management ,administration 
of the emergency declared on ,march #ac1
 #bjbj1 by the ,president under the     
,robert ,t4 ,stafford ,disaster ,relief 
and ,emergency ,assistance ,act 7#db    
,u4,s4,c4 #daba et seq47 relating to the
 ,coronavirus ,disease #bjai            
7,,covid-#ai7 pandemic4  7#c7 ,private  
education loan ,the term private        
education loan has the meaning given the
 term in section #adj of the ,truth in  
,lending ,act 7#ae ,u4,s4,c4 #afej74    
7#d7 ,qualified borrower ,the term      
qualified borrower means a borrower of a
 covered loan or a private education    
loan4  7#e7 ,secretaries concerned ,the 
term ,secretaries concerned means-- 7,a7
 the ,secretary of ,education1 with     
respect to covered loans and borrowers  
of such covered loans2 and  7,b7 the    

,secretary of the ,treasury1 with       
respect to private education loans and  
borrowers of such private education     
loans4  #e4 ,income share agreements    
7a7 ,in general ,an individual who      
entered into an income share agreement  
to pay for education expenses of the    
individual shall not be required to make
 payments under such income share       
agreement for the duration of the       
,,covid-#ai emergency period and the    
#f-month period immediately following4  
7b7 ,,covid-#ai emergency period ,in    
this section1 the term ,,covid-#ai      
emergency period means the period that  
begins upon the date of the enactment of
 this ,act and ends upon the date of the
 termination by the ,federal ,emergency 
,management ,administration of the      
emergency declared on ,march #ac1 #bjbj1
 by the ,president under the ,robert ,t4
 ,stafford ,disaster ,relief and        
,emergency ,assistance ,act 7#db        
,u4,s4,c4 #daba et seq47 relating to the
 ,coronavirus ,disease #bjai            

7,,covid-#ai7 pandemic4  #f4 ,exclusion 
from gross income  7a7 ,in general ,part
 ,,iii of subchapter ,b of chapter #a of
 the ,internal ,revenue ,code of #aihf  
is amended by inserting after section   
#aci;,h the following new section3      
#aci;,i4 ,student loan payments         
resulting from the ,,covid-#ai national 
emergency ,gross income shall not       
include any payment made on behalf of   
the taxpayer under section              
#dic;,e7b77#a7 of the ,higher ,education
 ,act of #aife1 section #adj7;h7 of the 
,truth in ,lending ,act1 or section #d  
of the ,emergency ,relief for ,student  
,borrowers ,act of #bjbj4  4  7b7       
,clerical amendment ,the table of       
sections for part ,,iii of subchapter ,b
 of chapter #a of the ,internal ,revenue
 ,code of #aihf is amended by inserting 
after the item relating to section      
#aci;,h the following new item3  ,sec4  
#aci;,i4 ,student loan payments         
resulting from the ,,covid-#ai national 
emergency4  4  7c7 ,effective date ,the 

amendments made by this section shall   
apply to taxable years beginning after  
,december #ca1 #bjai4